Zacks: Analysts Anticipate First Commonwealth Financial (FCF) to Announce $0.28 EPS

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Brokerages predict that First Commonwealth Financial (NYSE:FCF) will announce earnings of $0.28 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for First Commonwealth Financial’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.28. First Commonwealth Financial reported earnings of $0.22 per share during the same quarter last year, which would indicate a positive year over year growth rate of 27.3%. The business is expected to announce its next earnings results after the market closes on Tuesday, October 23rd.

On average, analysts expect that First Commonwealth Financial will report full-year earnings of $1.06 per share for the current year, with EPS estimates ranging from $1.04 to $1.07. For the next fiscal year, analysts anticipate that the business will report earnings of $1.12 per share, with EPS estimates ranging from $1.08 to $1.15. Zacks’ EPS averages are a mean average based on a survey of research firms that cover First Commonwealth Financial.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings results on Tuesday, July 24th. The bank reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. First Commonwealth Financial had a return on equity of 10.81% and a net margin of 22.17%. The firm had revenue of $89.98 million during the quarter, compared to analyst estimates of $82.38 million. During the same period last year, the company earned $0.21 earnings per share.

FCF has been the subject of a number of analyst reports. Zacks Investment Research lowered First Commonwealth Financial from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Raymond James reaffirmed a “hold” rating on shares of First Commonwealth Financial in a report on Friday, September 7th. Boenning Scattergood reaffirmed a “hold” rating on shares of First Commonwealth Financial in a report on Wednesday, July 25th. ValuEngine raised First Commonwealth Financial from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Finally, DA Davidson initiated coverage on First Commonwealth Financial in a report on Thursday, August 23rd. They issued a “neutral” rating and a $18.00 price target for the company. Nine research analysts have rated the stock with a hold rating, First Commonwealth Financial has a consensus rating of “Hold” and a consensus price target of $16.67.

First Commonwealth Financial stock opened at $15.14 on Friday. First Commonwealth Financial has a one year low of $13.50 and a one year high of $17.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $1.62 billion, a PE ratio of 18.46 and a beta of 1.00.

Large investors have recently bought and sold shares of the stock. A.R.T. Advisors LLC bought a new stake in First Commonwealth Financial during the first quarter valued at $152,000. Bank of Montreal Can bought a new stake in First Commonwealth Financial during the second quarter valued at $188,000. Bank of New York Mellon Corp boosted its stake in First Commonwealth Financial by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 1,410,700 shares of the bank’s stock valued at $21,879,000 after buying an additional 22,901 shares during the period. BlueMountain Capital Management LLC boosted its stake in First Commonwealth Financial by 14.4% during the second quarter. BlueMountain Capital Management LLC now owns 35,371 shares of the bank’s stock valued at $549,000 after buying an additional 4,451 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in First Commonwealth Financial by 6.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 691,899 shares of the bank’s stock valued at $10,732,000 after buying an additional 41,629 shares during the period. 68.69% of the stock is owned by institutional investors.

About First Commonwealth Financial

First Commonwealth Financial Corporation, through its subsidiary First Commonwealth Bank, provides consumer and commercial banking services to individuals, and small and mid-sized businesses in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (ATM) services, as well as Internet, mobile, and telephone banking services.

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Earnings History and Estimates for First Commonwealth Financial (NYSE:FCF)

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